Housing Wire

FEBRUARY 23, 2024

Industry experts say that although there’s a correlation between unemployment and delinquency rates, some homeownership costs — including insurance — have increased significantly over the past two or three years, which has had a strong financial impact on homeowners.

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Insurance Home Value Mortgage Marketing 482

Housing Wire

OCTOBER 9, 2024

The home insurance marketplace has been facing a reckoning. With the death toll from Helene crossing the grim milestone of 230 this week — and with thousands of impacted homes without flood insurance wiped away — this could lead to a ripple effect that drives homeowners insurance premiums even higher.

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Insurance Mortgage Property Taxes Construction 459

Housing Wire

OCTOBER 2, 2023

Passage allows Congress to fund the government for 45 days, provide $16 billion in disaster assistance, and temporarily extend the National Flood Insurance Program. Each disruption caused “immediate and widespread” impacts on property sales, home values and consumer confidence, the National Association of Home Builders noted in a statement.

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Insurance Government Home Value Realtors 447

Housing Wire

JANUARY 22, 2025

Reverse mortgage lender and servicer Longbridge Financial , which offers both Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage ( HECM ) loans as well as proprietary reverse mortgage products, announced that it has lowered the minimum home value for its fixed-rate proprietary products.

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Housing Wire

JANUARY 27, 2025

The Consumer Financial Protection Bureau (CFPB) this month published an issue spotlight that takes a closer look at home equity contracts, or what the industry refers to as home equity investments (HEIs) that offer a lump sum payment to clients in exchange for a stake in their home equity.

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Contracts Mortgage Property Taxes Law 369

Housing Wire

MAY 9, 2022

The American Land Title Association saw a nearly 36% year-over-year increase in title insurance premium volume in 2021 for a staggering $7 billion spike, according to the trade group’s Market Share Analysis , published Friday. The title insurance industry generated $26.2 The title insurance industry generated $26.2

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Insurance Home Value Inventory Real Estate 369

Housing Wire

NOVEMBER 2, 2021

In 2013, the Federal Housing Administration (FHA) began requiring borrowers to pay the Mortgage Insurance Premium (MIP) for the life of an FHA loan. People have equated FHA insurance to that of private mortgage insurance used by the government-sponsored enterprises (GSEs), which is not life-of-loan.

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Insurance Mortgage Development Valuation 397

Housing Wire

FEBRUARY 14, 2025

MetroList, which serves Northern California, recently partnered with real estate data provider StreetWire on a home insurance product called Home Value Lock, which gives homeowners protection in the event they have to sell their house at a loss due to an unexpected need to move.

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Real Estate Technology Home Value Insurance 344

Housing Wire

JANUARY 24, 2025

A group of 2,769 West Virginian borrowers claimed in the lawsuit, which was originally filed on July 23, 2012, that Rocket Mortgage (known then as Quicken Loans ) and its insurance arm, Amrock (formerly Title Source ), were unfairly influencing home appraisal values. The latest ruling from the U.S

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Mortgage Legal Appraisal Valuation 368

Housing Wire

JULY 25, 2023

In late June, Susan Gregory received an estimate for a new homeowner’s insurance policy on her 120-year-old St. Augustine, Florida property, after her previous insurer, United Property and Casualty, went insolvent earlier in the year. “It can’t be my forever home if I can’t afford it.”

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Insurance Housing Market Marketing Agents 370

Appraisal Buzz

MARCH 4, 2025

But, its important to remember that new building contributes to the overall rise in market value. Albany, New York Top 10 Metros w/ the Fastest Growing Total Home Value (2024) Rank Metro % Growth YoY $ Growth YoY Total Metro Home Value 1 Albany, NY 11.3% $11.2B $110.6B trillion, Gen Xers home values rose 4.6%

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Home Value Housing Market Buyers Marketing 243

Housing Wire

JUNE 21, 2022

Despite rising interest rates , higher home prices and a drop in refinance volume , the American Land Title Association recorded $5.89 billion in title insurance premium volume during the first quarter of 2022, compared to $5.68 The title insurance industry had a record year in 2021 , generating $26.2 Doma Title Insurance Co.

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Insurance Home Value Contracts Marketing 321

Appraisal Buzz

OCTOBER 28, 2024

“The cost of owning a home has gone from affordable to unaffordable for a lot of local Florida residents and out-of-towners. Home prices that are much higher than in pre-pandemic times and the disaster-driven surge in HOA and insurance costs are now pricing homebuyers out of the market.” Atlanta $2,811 106.8% $239 65.8%

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Property Taxes Home Value Government HOA 349

Housing Wire

JUNE 10, 2024

The increase reflects rising home prices, which went up 40% since the beginning of the COVID-19 pandemic , mainly due to a lack of inventory, according to the study. It’s also due to growing property taxes and homeowners insurance premiums as providers exited states where risks are elevated.

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Property Taxes Insurance Home Value Inventory 518

Appraisal Buzz

JUNE 10, 2024

Bankrate compiled the typical costs of property taxes, homeowners insurance, and home maintenance, which was estimated to be 2% of a home’s value per year. states, the average single-family home, priced at $436,291, according to Redfin , costs $18,118 each year. Insurance prices are another burden for homeowners.

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Property Taxes Insurance Home Value Construction 409

Appraisal Buzz

JANUARY 28, 2025

However, the rising costs of insurance, property taxes, and housing have dampened local relocation rates. Shifts in Migration Motivations State-to-state migration is increasingly driven by necessity rather than lifestyle. Economic factors such as job opportunities, housing affordability, and quality of life remain primary motivators.

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Property Taxes Home Value Insurance Appraisal 370

Housing Wire

MARCH 13, 2024

The cost of homeowners insurance policies has skyrocketed in the past two years as U.S. insurers have grappled with exponential growth in natural disaster claims. homes, valued at $19.7 homes, worth $13.6 of homes in the U.S., valued at nearly $7.7 And about 9% of homes, valued at nearly $6.6

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Tools Insurance Home Value Technology 468

Housing Wire

JUNE 7, 2024

For example, when looking at the level of mortgage debt in Q1 2024, there are 111,000 homes that would move back into a positive equity position if home values rose by at least 5%. Conversely, 153,000 homes would fall underwater if values declined by 5% or more.

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HOA Home Value Insurance Mortgage 518

Appraisal Buzz

DECEMBER 5, 2024

Measuring the Impact of Rising Prices An increase in home prices has surpassed most wage gains around the country to varying degrees, leading to homeownership costs consuming more than triple the portion of average wages in some parts of the country compared to others. home value currently stands at $359,099, up 2.6%

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Housing Market Marketing Property Taxes Mortgage 397

Appraisal Buzz

OCTOBER 1, 2024

The death toll currently stands at 140-plus from Hurricane Helene, and CoreLogic announced initial residential and commercial storm surge and wind loss estimates for Hurricane Helene for insured residential and commercial properties in Florida and Georgia are expected to be between $3 and $5 billion.

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Home Improvement Insurance Home Value Sellers 418

Housing Wire

JANUARY 18, 2023

“A small offset or decline in home values, which we are starting to see, (…) can help that consumer who’s in the market for the first time,” Brown said. mortgage insurance market in 2023 to deteriorate. mortgage insurance sector,” Christopher Grimes, director of Fitch Ratings, said.

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Housing Market Marketing Insurance Mortgage 476

Housing Wire

NOVEMBER 18, 2024

in October—fueled by rising housing and insurance costs—and mortgage rates having edged back above 7%, homeownership remains a distant goal for many living in the U.S. Yet each of these states faces unique real estate hurdles that shape the prospects for both home sales and rentals. inflation climbing to 2.6%

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Real Estate Agents Real Estate Agent Marketing 397

Appraisal Buzz

MAY 6, 2024

Does the cost of homeowners insurance affect the price of a home? In recent years, insurance companies have pulled out of some markets altogether after sustaining massive losses due to wildfires, flooding, and other climate-related disasters. In some markets, the answer is increasingly yes.

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HOA Insurance Legal Fees Valuation 370

Housing Wire

DECEMBER 27, 2022

In recent months, the canary has been chirping with far less exuberance as inflation (now above 7% annualized ), rising mortg a ge rates , declining home values and the potential of faster-rising unemployment spurred on by a potential recession in the coming year all grip the FHA sector. Over the past 14 years, FHA has insured 9.1

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Insurance Home Value Mortgage Marketing 497

Housing Wire

NOVEMBER 3, 2023

Geniusprice, an automated and instant home value estimate driven by AI, advanced machine learning and homegeniusIQ. Consumers can see room condition scores at a glance and get the estimated value of each property they’re interested in, instantly.

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Real Estate Agent Real Estate Insurance Valuation 434

Appraisal Buzz

JUNE 6, 2022

The latest news of such comes from American Land Title Association (ALTA) who found that, driven by meteoric rise in originations and home values last year, has caused title insurance premiums to increase by 35.9% increase seen … The post Title Insurance Market Sees Double Digit Growth appeared first on DSNews.

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Insurance Marketing Home Value Real Estate 150

Appraisal Buzz

JULY 10, 2024

VeroFORECAST evaluates home prices in over three hundred of the nation’s largest housing markets, and the company is committed to the data science of predicting home value based on rigorous analysis of the fundamentals and interrelationships of numerous economic, housing, and geographic variables pertaining to home values.

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Home Value Inventory Housing Market Buyers 390

Housing Wire

MARCH 5, 2024

The federally insured reverse mortgage known as a Home Equity Conversion Mortgage (HECM) is unique, as are the rates that impact the HECM product. This “principal limit” calculation is based on factors like home value, age, and of course, interest rates. Why are there two HECM interest rates used with HECM loans?

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Mortgage Insurance Home Value Development 458

Housing Wire

FEBRUARY 1, 2023

To this end, Sagent believes servicing fintech must address three areas to set a modern data standard in 2023 and beyond: First, homeowners should be able to access their data easily and securely from any device to manage every aspect of their home-owning lives. and see the same data their customer is seeing.

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Mortgage Technology Investors Modernization 492

Appraisal Buzz

JUNE 26, 2024

An Overview of CFPB Efforts The new rule approved today mandates that businesses using these algorithmic appraisal tools implement safeguards to prevent data manipulation, maintain high levels of confidence in home value estimates, steer clear of conflicts of interest, and adhere to applicable nondiscrimination laws.

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Appraisal Tools Appraisal Process Real Estate 391

Appraisal Buzz

DECEMBER 30, 2024

Your monthly house payment on a 15-year fixed-rate mortgage will be 25% or less of your monthly take-home pay. A 20% down payment is ideal because youll avoid paying private mortgage insurance (PMI). But 510% is okay, too, if youre a first-time home buyer. You have a down payment. Just be prepared to pay PMI.

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Housing Market Marketing Inventory Real Estate 363

Appraisal Buzz

AUGUST 19, 2024

The record high in home prices—the median sale price nationally increased by 4% in June—has led to a record high in the percentage of American homes valued at $1 million or more. This is more than twice the 4% proportion that existed prior to the epidemic and up from 7.6% a year earlier.

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Home Value Luxury Properties Buyers Inspection 396

Housing Wire

JULY 25, 2023

Insurers and government programs frequently subsidize the cost of rebuilding after storms hit, and mortgages mean homeowners are ceding some risk to lenders—especially if their house goes into foreclosure after a storm,” he explained. Recently, prominent insurance companies have exited some of these areas.

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Housing Market Marketing Insurance Renovations 369

Housing Wire

FEBRUARY 13, 2024

In May 2023 , Hometap launched an online portal called the Home Equity Dashboard. The platform offers homeowners a free centralized platform to understand their home equity. It features tools for data visualization of home value, mortgage debt and current equity, as well as estimates for up to 10 years.

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Investing Renovations Tools Real Estate 412

Housing Wire

MARCH 27, 2023

The title insurance industry continued to pay out claims, many fraud-related, despite a severe recession. According to Politico , Fannie Mae would waive title insurance requirements for certain transactions under the pilot program. This is because title insurance provides the most comprehensive protection of property rights.

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Insurance Government Home Value Real Estate 321

Housing Wire

JANUARY 17, 2024

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ).

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Finance Real Estate Agent Real Estate Insurance 482

Appraisal Buzz

SEPTEMBER 17, 2024

home value currently stands at $361,282, up 2.9% This analysis shows homeownership may be more within reach than most renters think,” said Zillow Home Loans Senior Economist Orphe Divounguy. For those who can put together a down payment, buying a home in these cities may be the right move. year-over-year.

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Buyers Home Value Insurance Mortgage 418